$850,000
118 1st Avenue NE Faribault, MN 55021
For Sale MLS# 7071760
Other
Details for 118 1st Avenue NE
MLS# 7071760
Description for 118 1st Avenue NE, Faribault, MN, 55021
DOWNTOWN FARIBAULT OFFICE BUILDING — Income Today, Positioned for Tomorrow. Faribault is having a moment. This building has a front-row seat. Step into one of Southern Minnesota's smartest investment opportunities — a high-visibility office building in historic downtown Faribault, just 35 minutes south of the Twin Cities on I-35. A standout in every sense — doing exactly what a strong asset should: holding quality tenants and generating reliable income. In 2015, a significant capital investment went into a top-to-bottom transformation — and it shows. The result is a building that presents with pride: warm brick, signature red awnings, generous windows, and a professionally finished interior that tenants are proud to work in. This wasn't tinkering. This was a reinvention. The investment didn't stop there — recent electrical updates and additional commercial improvements tell the story of a building well cared for. Nine leased suites, tenants who keep renewing, and one available suite — the occupancy picture is strong. Everything you'd expect is here — shared conference and reception areas, front ramp entry, off-street asphalt parking, and prominent pole signage. Step outside, take a stroll, and discover a downtown that looks like a Hallmark card — beloved restaurants, boutiques, and the Paradise Center for the Arts all within walking distance. And right across the street is the city's newest gathering space, Viaduct Park — an all-season recreation destination with a splash pad, fire pit, and indoor gathering areas. The city calls it "Spaces of Real Joy," and it shows. It's the kind of civic investment that signals a community betting on itself. This is a town where people know your name, shop local by choice, and show up for their community. This building is your seat at that table. Whether you're an investor seeking reliable returns, an entrepreneur with a bold vision for the space, or both — this is a rare chance to plant roots in a town on the rise. The renovation is done. The tenants are in. The income is flowing. Rare is an overused word in real estate. This time it applies.
Listing Information
Property Type: Commercial
Status: Active
Lot Size: 0.25 Acres
Square Feet: 6,450 sq ft
Year Built: 1900
Foundation: 6,450 sq ft
Stories: 1 Story
Subdivision: City/Faribault
Number Of Units Total: 10
Current Use: Commercial,Office,Professional Service
County: Rice
Days On Market: 26
Construction Status: Previously Owned
School Information
District: 656 - Faribault
Interior Features
Accessibility: Wheelchair Ramp, No Stairs Internal, Grab Bars In Bathroom, Hallways 42+
Utilities
Water: City Water/Connected
Sewer: City Sewer/Connected
Other Utilities: Electric Common,Heating Common,Hot Water Common
Cooling: Central
Heating: Natural Gas, Forced Air
Exterior / Lot Features
Open Parking: 7
Parking Description: Other, Uncovered/Open, Guest Parking, Parking Lot, Paved Lot
Exterior: Brick/Stone, Stucco
Roof: Flat
Lot Dimensions: 10,890 SF
Zoning: Business/Commercial
Additional Exterior/Lot Features: Land Inclusions - Building,Leases, Road Frontage - Paved Streets, City
Driving Directions
From I-35 southbound from the Twin Cities, MN-60 exit. Continue east on MN-60/4th Street NW into Faribault. Turn right onto 1st Avenue NE.
Financial Considerations
Other Annual Tax: $360
Tenant Pays: Electric,Gas,Insurance,Maintenance/Repair,Other,Snow,Taxes,Trash,Water
Tax/Property ID: 1831126485
Tax Amount: 12862
Tax Year: 2026
HomeStead Description: Non-Homesteaded
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The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity℠ Program of the Regional Multiple Listing Service of Minnesota, Inc. Real estate listings held by brokerage firms other than Edina Realty, Inc. are marked with the Broker Reciprocity℠ logo or the Broker Reciprocity℠ thumbnail and detailed information about them includes the name of the listing brokers. Edina Realty, Inc. is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Edina Realty, Inc., a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc. IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Open House information is subject to change without notice. Information deemed reliable but not guaranteed.
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Payment Calculator
Interest rate and annual percentage rate (APR) are based on current market conditions, are for informational purposes only, are subject to change without notice and may be subject to pricing add-ons related to property type, loan amount, loan-to-value, credit score and other variables. Estimated closing costs used in the APR calculation are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan, APR and payment amounts will be higher. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR. Contact us for details. Additional loan programs may be available. Accuracy is not guaranteed, and all products may not be available in all borrower's geographical areas and are based on their individual situation. This is not a credit decision or a commitment to lend.
Sales History & Tax Summary for 118 1st Avenue NE
Sales History
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Tax Summary
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
Schools
Schools nearby 118 1st Avenue NE
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Data powered by ATTOM Data Solutions. Copyright© 2026. Information deemed reliable but not guaranteed.
The schools shown represent both the assigned schools and schools by distance based on local school and district attendance boundaries. Attendance boundaries change based on various factors and proximity does not guarantee enrollment eligibility. Please consult your real estate agent and/or the school district to confirm the schools this property is zoned to attend. Information is deemed reliable but not guaranteed.
SchoolDigger ® Rating
The SchoolDigger rating system is a 1-5 scale with 5 as the highest rating. SchoolDigger ranks schools based on test scores supplied by each state's Department of Education. They calculate an average standard score by normalizing and averaging each school's test scores across all tests and grades.
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